IDEA Correction Potentially Completed.. Buying Opportunity!!IDEA has been correcting since a long time and looks like the correction is Potentially Over.. I am taking an Early Action on it with a small stoploss around 63 levels and Targets around 120. There is Bullish MACD Divergence on the chart and the last candle is bullish one to give some support for the prediction.
Happy Trading!!
Wavetheory
ABAN - New Impulse Wave (Go Long) It is been observed that the price action trending up on daily chart and recently breaks out of downward correction channel on daily chart. Today, Nifty corrected on a big move but the price action in this doesn't change. Bulls are in control and dominance in current scenario. It has completed 8 Waves cycle and now moving onto a new impulse wave. It is a good time to get long in this one.
Target: 268
Stoploss: 220
Tata Power Breakout to New Impulse Wave It is been observed that the price action is trending up by making higher highs and higher lows. Previously, at high of 77 levels price action consolidates and corrects within a downward trendline and then breakout the trendline and then broke out to a new highs with that impulsive wave. Now it is again breakout from the downward trendline and looking to reach for previous high levels of 80.
Target: 80
Stoploss: 74.50
Jain Irrigation - Wave 5 completed, Now in Corrective Phase As per the price action, it seems like 5 impulse waves are completed within the up-trend channel and now it will move further in corrective phase where 3 waves will continue rallying downward against the trend. The three corrective waves would name A B C. I have marked only Wave A in the above chart.